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Posted Mon, 08 Jul 2024 15:43:26 GMT by Steven Moss
Hi Metlife have issued me a chargeable event certificate even though the policy had not been redeemed. The policy was transferred between two pension management companies and has not been redeemed either in part or full. When I complete my tax return, because a chargeable event certificate has been issued i presume that HMRC would expect it to be declared on the return however this will trigger a tax charge. Can you please advise whether I should include this on my tax return and if there is a way to mark it exempt for tax purposes, as it has not been redeemed? Or as there hasn't actually been a chargeable event i should not include it on my tax return? Thank you
Posted Mon, 15 Jul 2024 10:47:43 GMT by HMRC Admin 32 Response
Hi,

As a certificate has been issued it will still need to be declared.

Thank you.
Posted Mon, 15 Jul 2024 11:10:51 GMT by Steven Moss
Hi Thank you for confirming, but if I declare it on the tax return it will create a tax charge on the basis of it being fully redeemed. As stated this is not the case as it has only been transferred. If i declare it on the tax return, is there an option on the return to reverse the tax charge? Thank you
Posted Wed, 17 Jul 2024 10:18:49 GMT by HMRC Admin 8 Response
Hi,
Please refer to the following link:
IPTM2090 - Statements required from beneficiaries under a policy
Thankyou.

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